UNITED KINGDOM February 18 2016 6:20 PM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices edged up by €1 week-on-week to €323 per ton in the week ended February 12, as per the latest figures released by The Steel Index.
European steel prices were mostly stable during the week, as activity remained subdued. While buyers noted good demand from the automotive sector and a pick-up in activity in construction, many still preferred to keep stock levels lean.
North European mills were booking HRC orders between €320-325 a ton, and TSI’s benchmark index finished the week at €323 a ton.
Italian steel producers pegged offers at €295-300 a ton, while transactions concluded approximately €10 a ton lower.
Although import offers are said to be not very competitive, the availability of material at ports continues to put pressure on domestic pricing.
Platts reported on Wednesday that the European Commission has announced a long-awaited AD investigation into imports of Chinese HRC, plate and seamless pipe.
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